Sterling wobbles, Apple’s stumble and Greencore’s Brexit airlift

Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk

 

Sterling stumbled last night as British MPs rejected an amendment by Labour MP Yvette Cooper and Conservative MP Nick Boles that was seen as averting the prospects of a messy no-deal Brexit. The UK currency fell to session lows in the wake if the vote.

Tech giant Apple said sales for its second quarter are likely to be below Wall Street expected in what is seen as a signal that it continues to face weak demand for its iPhone, especially in China, the world’s biggest smartphone market.

Patrick Coveney, chief executive of sandwich maker Greencore, told shareholders that the company will consider airlifting ingredients into Britain post-Brexit if ports cannot be relied on. Eoin Burke-Kennedy has the details.

And shareholders at medical services group UDG Healthcare were told the company faces a potential lawsuit from US rival McKessons over the 2016 sale to it of the original United Health business. Barry O’Halloran was at the meeting.

The number of non-domiciled Irish residents has more than doubled in just three years, writes Fiona Reddan as fast-growing Irish firms have to turn abroad for key workers.

Fiona also has details of sort of money Irish Airbnb hosts are earning from short-term lets. Latest data suggest there is little sign of hosts taking fright at the prospect of incoming regulation on short-term lets of entire properties. And in her column, Fiona queries whether they can work and even if the necessary legislation will be in place in time for their intended introduction in June.

Finally Eoin Burke-Kennedy reports on the vegan burger that “bleeds”and which is now available in Ireland through Tesco.

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